The leading credit co-operative society of Maharashtra, Buldana Urban Co-op Credit Society performed spectacularly in the 2021-22 FY and crossed the business mix of more than Rs 18k crore as on 31st March 2022.
The society’s business mix increased from Rs 16,678 crore (2020-21) to Rs 18,141 crore as on 31st March 2022. The deposits of Buldana Urban rose from Rs 9,554 crore to Rs 10,069 crore whereas advances grew from Rs 7,124 crore to Rs 8,072 crore in the 2021-22 FY.
Buldana Urban earned a net profit of Rs 75 crore as on 31st March 2022. Earlier i.e. in 2020-21 it was Rs 30 crore. It was revealed in the 36th Annual General Meeting of the society held recently.
Addressing the meeting, the society Chairman Radhyeshyam Chandak announced, “We have purchased land for building a 7 storey well equipped and modern cancer hospital on Botha Road in Buldana. Eminent doctors from the country as well as abroad will be made available and a helipad will be set up on the last floor of the building to bring patients”.
“The society has recently launched an innovative initiative called Urban Social Services at Buldana. Through this, we are providing beds, walkers, oxygen cylinders, mattresses, wheelchairs etc. This service is being provided free of charge to the depositor members of the institution”, the Chairman added.
In his speech Buldan Urban Chief Managing Director, Sukesh Zamwar added, “We have entered into an agreement with Hitachi to withdraw money from any bank account for its members and ATMs of Hitachi have been installed in 21 branches of the organization and we will soon arrange to install such ATMs in around twenty-five rural branches”.
“Our society also started 21 schools in Buldhana district and a school in Nanded district through its associate organization Buldana Urban Charitable Society to provide good quality English medium education to the students of rural areas. Today, 23000 students are studying with 22 school’s pre-primary, primary, pre-secondary, secondary and junior colleges”, he added.
Readers would recall that Buldana Urban announced a plan to divide itself into two different Multi State Cooperative Societies and the proposal is pending with the central registrar of cooperative societies. Out of 466, the 47 branches in Pune, Satara, Sangli and Kolhapur will be split into a single group and the remaining 419 branches into the other group.
Buldana Urban was established on 15th August 1986 with a share capital of only Rs. 12,000 and 72 members. At present, there are 466 branches and 1.3 lakh members across the country. 458 branches have been added online in core banking and there are 406 godowns.
The society has areas of operation in Maharashtra, Madhya Pradesh, Rajasthan, Chhattisgarh, Gujarat, Andhra Pradesh, Goa and Andaman & Nicobar.
